State pension: How payments work for the self-employed - NI contribution rules explained

For the self-employed, class two National Insurance contributions are paid if profits are above a certain threshold, which is £6,474 for the current year.

If profits rise above £9,500, both class two and class four contributions will be paid.

The rates for these two classes will also be different, with class two contributions being £3.05 per week.

Class four contributions will be charged at nine percent on profits between £9,501 and £50,000, with two percent being levied on profits over £50,000.

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